ESTATE DUTY.
No. 25 of 1914.
An Act to impose Duties upon the Estates of Deceased Persons.
[Assented to 21st December, 1914.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title.
1. This Act may be cited as the Estate Duty Act 1914.
Incorporation.
2. The Estate Duty Assessment Act 1914 shall be incorporated and read as one with this Act.
Imposition of succession duties.
3. Estate duty is imposed at the rates declared in the Schedule to this Act upon the estates of deceased persons dying after the commencement of this Act.
THE SCHEDULE.
Rates of Estate Duty payable on the Estates of deceased persons dying after the commencement of this Act—
Where the Total Value of the Estate, after Deducting all Debts— | Duty shall be Payable at the rate per cent, of— |
Exceeds One thousand pounds and does not exceed Two thousand pounds | One pound |
Exceeds Two thousand pounds.............. | One pound, together with an additional percentage of one-fifth of a pound for every One thousand pounds or part of One thousand pounds in excess of the sum of Two thousand pounds, but so that the percentage shall not exceed Fifteen pounds. |